Debt and Interest Rate Swap (Details) - USD ($)
|
|
5 Months Ended |
12 Months Ended |
38 Months Ended |
44 Months Ended |
|
|
|
May 12, 2024 |
Dec. 31, 2020 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2020 |
Dec. 31, 2020 |
Jul. 31, 2020 |
Nov. 03, 2017 |
May 12, 2017 |
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Derivative, Fixed Interest Rate |
|
4.25%
|
4.25%
|
|
|
4.25%
|
4.25%
|
|
1.74685%
|
|
| Derivative Asset |
|
|
|
$ (40,000.00)
|
|
|
|
|
|
|
| Document Period End Date |
|
|
Dec. 31, 2020
|
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) |
|
|
$ 122,000
|
$ (1,660,000)
|
$ 900,000
|
|
|
|
|
|
| Incremental Loans |
|
|
|
|
|
|
|
|
|
$ 160,000,000.0
|
| Debt Instrument, Payment Terms |
|
0.25%
|
0.25%
|
|
|
0.25%
|
0.25%
|
|
|
|
| Debt Instrument, Term |
|
|
7 years
|
|
|
|
|
|
|
|
| Debt Instrument, Call Feature |
|
|
1.0% soft call premium
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate, Effective Percentage |
|
4.40%
|
4.40%
|
4.90%
|
|
4.40%
|
4.40%
|
|
|
4.60%
|
| Long-term Debt, Fair Value |
|
$ 376,100,000
|
$ 376,100,000
|
$ 214,600,000
|
|
$ 376,100,000
|
$ 376,100,000
|
|
|
$ 398,500,000
|
| Debt Issuance Costs, Gross |
|
|
|
|
|
|
|
|
|
6,000,000.0
|
| Amortization of Debt Discount (Premium) |
|
|
400,000
|
300,000
|
300,000
|
|
|
|
|
|
| Amortization of Debt Issuance Costs |
|
|
1,100,000
|
900,000
|
800,000
|
|
|
|
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
|
|
|
|
|
|
(2,100,000)
|
| Long-term Debt |
|
369,812,000
|
369,812,000
|
|
|
369,812,000
|
369,812,000
|
|
|
|
| Long-term debt |
|
363,592,000
|
363,592,000
|
206,909,000
|
|
363,592,000
|
363,592,000
|
|
|
|
| Long-Term Debt, Maturity, Year One |
|
0
|
0
|
|
|
0
|
0
|
|
|
|
| Long-Term Debt, Maturity, Year Two |
|
15,312,000
|
15,312,000
|
|
|
15,312,000
|
15,312,000
|
|
|
|
| Long-Term Debt, Maturity, Year Three |
|
142,500,000
|
142,500,000
|
|
|
142,500,000
|
142,500,000
|
|
|
|
| Long-Term Debt, Maturity, Year Four |
|
212,000,000
|
212,000,000
|
|
|
212,000,000
|
212,000,000
|
|
|
|
| Debt, Current |
|
0
|
0
|
|
|
0
|
0
|
|
|
|
| Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax |
|
|
$ 225,000
|
(1,319,000)
|
$ 702,000
|
100,000
|
|
|
|
|
| Debt Instrument, Covenant Description |
|
|
The Incremental Term Loan is subject to a financial covenant of an initial maximum total net leverage ratio of 3.5 to 1 which decreases to 3.0 to 1 beginning with the sixth full fiscal quarter ending after July 31, 2020. During any period during which the Company (i) fails to maintain a public corporate rating from S&P that is equal to or higher than BB- and a public corporate rating from Moody's that is equal to or higher than Ba3 or (ii) fails to maintain a total leverage ratio of 3.0 to 1 or less, the applicable margin will increase to 4.75% in the case of LIBOR Rate loans and 3.75% in the case of Base Rate loans.
|
|
|
|
|
|
|
|
| Base Rate [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate Terms |
|
|
base rate
|
|
|
|
|
|
|
|
| Debt Instrument, Basis Spread on Variable Rate |
|
|
1.50%
|
|
|
|
|
|
|
|
| Fed Funds Effective Rate Overnight Index Swap Rate [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate Terms |
|
|
the federal funds rate, plus 0.50%
|
|
|
|
|
|
|
|
| Prime Rate [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate Terms |
|
|
prime rate
|
|
|
|
|
|
|
|
| London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Basis Spread on Variable Rate |
|
|
2.50%
|
|
|
|
|
|
|
|
| London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate Terms |
|
|
an adjusted LIBOR rate determined on the basis of a one- three- or six-month interest period, plus 1.0%
|
|
|
|
|
|
|
|
| London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate Terms |
|
|
an adjusted LIBOR rate, subject to a floor of 0.75%
|
|
|
|
|
|
|
|
| London Interbank Offered Rate (LIBOR) Subject to Floor [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Basis Spread on Variable Rate |
|
|
2.50%
|
|
|
|
|
|
|
|
| Term B [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Long-term Debt, Gross |
|
212,000,000
|
$ 212,000,000
|
212,000,000
|
|
212,000,000
|
212,000,000
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
(213,000,000.0)
|
|
|
|
| TermAloan1 [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Long-term Debt, Gross |
|
157,812,000
|
$ 157,812,000
|
0
|
|
$ 157,812,000
|
$ 157,812,000
|
|
|
|
| Incremental Loans |
|
|
|
|
|
|
|
$ 175,000,000.0
|
|
|
| Repayments of Debt |
|
$ (17,200,000)
|
|
|
|
|
|
|
|
|
| Debt Instrument, Interest Rate, Effective Percentage |
|
|
|
|
|
|
|
3.20%
|
|
|
| Long-term Debt, Fair Value |
|
|
|
|
|
|
|
$ 181,100,000
|
|
|
| Debt Issuance Costs, Gross |
|
|
|
|
|
|
|
1,800,000
|
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
|
|
|
|
$ (900,000)
|
|
|
| TermAloan1 [Member] | Debt amortization period 1 [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Payment Terms |
|
1.25%
|
1.25%
|
|
|
1.25%
|
1.25%
|
|
|
|
| TermAloan1 [Member] | Debt amortization, period 2 [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Payment Terms |
|
2.50%
|
2.50%
|
|
|
2.50%
|
2.50%
|
|
|
|
| TermAloan1 [Member] | Debt amortization period 3 [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Payment Terms |
|
3.75%
|
3.75%
|
|
|
3.75%
|
3.75%
|
|
|
|
| TermAloan1 [Member] | Base Rate [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Basis Spread on Variable Rate |
|
|
3.25%
|
|
|
|
|
|
|
|
| TermAloan1 [Member] | London Interbank Offered Rate (LIBOR) Subject to Floor [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Basis Spread on Variable Rate |
|
|
4.25%
|
|
|
|
|
|
|
|
| Medium-term Notes [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Long-term Debt, Gross |
|
$ 369,812,000
|
$ 369,812,000
|
212,000,000
|
|
$ 369,812,000
|
$ 369,812,000
|
|
|
$ 425,000,000.0
|
| Debt Instrument, Unamortized Discount |
|
(1,767,000)
|
(1,767,000)
|
(1,328,000)
|
|
(1,767,000)
|
(1,767,000)
|
|
|
|
| Debt Issuance Costs, Net |
|
(4,453,000)
|
(4,453,000)
|
(3,763,000)
|
|
(4,453,000)
|
(4,453,000)
|
|
|
|
| Long-term Debt |
|
363,592,000
|
363,592,000
|
206,909,000
|
|
363,592,000
|
363,592,000
|
|
|
|
| Long-term Debt, Current Maturities |
|
0
|
0
|
0
|
|
0
|
0
|
|
|
|
| Long-term debt |
|
$ 363,592,000
|
$ 363,592,000
|
$ 206,909,000
|
|
$ 363,592,000
|
$ 363,592,000
|
|
|
|
| Forecast [Member] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
quarterly installments
|
|
|
|
|
|
|
|
|
|